Only way to drive down costs is to regulate the market so that the private sector does not exploit the market for too much profit.
This happens when there is actual competition. Hence no barriers for insurance companies, and links between the insurance companies and the healthcare providers. Right now, most Americans cant choose what hospital they want to go to.. because their insurance company has a "deal" with specific hospitals and a deal on what to charge (often far more than needed).
yes but costs on drugs, doctors and so on are all driven by the private healthcare system which is out of control.
Horse****. Your whole system is built up around private for profit system...
a system that is totally unregulated and allowed to create monopolies and worse in geographic areas that drive up prices even more.
On top of that the insurance industry is in cahoots with the medical industry and the one getting screwed is the consumer.
Of course it does, but it also kills debt.. which is what this discussion is about
You can increase the money supply by 66% in 8 years and only get 12% inflation! There is no linear relationship between the money supply and the price level; you must also consider output and velocity.
And keep in mind, we still have so many untapped resources. Our infrastructure needs to be rebuilt, clean energy expanded, so many people are still unemployed/"underemployed."
You can increase the money supply by 66% in 8 years and only get 12% inflation! There is no linear relationship between the money supply and the price level; you must also consider output and velocity.
IMO, structural unemployment will continue to worsen.
This could be the end of manual labor as we know it.
He's not talking about a 66% increase in the middle of a massive private sector deleveraging. He's talking about a 613% increase, and taking interest rates back to ~10%. Stagflation, on a massive scale.
He's not talking about a 66% increase in the middle of a massive private sector deleveraging. He's talking about a 613% increase, and taking interest rates back to ~10%. Stagflation, on a massive scale.
In that case, we can simply flirt with a basic income to make sure demand doesn't decrease. Even if structural unemployment increases, which it will, we still have the ability to tap resources and build. Of course, there is a limit.
BIG will essential in the post-labor world.
BIG will essential in the post-labor world.
He was talking about inflating away the debt, which of course would require well-above-average economic growth. With long term inflation expectations anchored to record lows, it's a bit of a fantasy.
How many farriers, blacksmiths, and stablehands are still out of work due to the mass-introduction of the automobile?
How many farriers, blacksmiths, and stablehands are still out of work due to the mass-introduction of the automobile?
Actually no, he was just talking about trying to print your way out of debt. What are the long-term inflation expectations in a universe where we announce (explicitly or implicitly) our intent to print more than 6 times our M1 supply in a "handful" of years, but without doing anything to address the structural deficits stemming from non-discretionary spending?
A robot that can perform tasks without breaks, pay, benefits, etc... will replace those that do.
Cars that can replace horse-drawn carraiges, will. So what happened to all those farriers, blacksmiths, and stablehands?
What about 15% a year for 40 years?
What about 15% a year for 40 years?
Leaves the exact same problem of not dealing with the structural deficits built into our non-discretionary spending, and still sends the signal that we intend to inflate our way out of the debt, increasing interest rates, and causing us to chase the goal further away the faster we run towards it.
Nor was he talking about "40" years. He was talking about a handful.
What's the problem?Leaves the exact same problem of not dealing with the structural deficits built into our non-discretionary spending
Some managed to find new jobs, some became unemployed for life, unfortunately for you, will, we're now seeing automation that doesn't even require people to operate the robots.
What's the problem?
That's a fascinating claim.
A) Can you demonstrate it
B) So what happened to their children?
It's unsustainable. That's a technical word which means "It will not be sustained".
Cars that can replace horse-drawn carraiges, will. So what happened to all those farriers, blacksmiths, and stablehands?
Leaves the exact same problem of not dealing with the structural deficits built into our non-discretionary spending, and still sends the signal that we intend to inflate our way out of the debt, increasing interest rates, and causing us to chase the goal further away the faster we run towards it.
Nor was he talking about "40" years. He was talking about a handful.
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